Legal Opinion
In re WM Distribution, Inc.
United States Bankruptcy Court, D. New Mexico
Decided June 29, 2018No. 17-10535-j11Published
1Opinion of the Court
ROBERT H. JACOBVITZ, United States Bankruptcy Judge
THIS MATTER is before the Court on cross-motions for summary judgment1 on Susan Jesmer d/b/a Native Trading Associates *54("Jesmer")'s claim set forth in her proof of claim (Claim No. 2) and the Debtor's objection to the claim.2 Primarily at issue is whether a provision in a promissory note constitutes an enforceable liquidated damages provision or an unenforceable penalty. The original principal amount of the promissory note made by WM Distribution, Inc. ("WM") and Sandia Tobacco Manufacturers, Inc. ("STM") in favor of Jesmer is $1,300,000. The…
2Cases cited24 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Atlantic Richfield Co. v. Farm Credit Bank of WichitaCourt of Appeals for the Tenth Circuit · 2000
- Jenkins v. WoodCourt of Appeals for the Tenth Circuit · 1996
- Diamond Crystal Brands, Inc. v. Food Movers International Inc.Court of Appeals for the Eleventh Circuit · 2010
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